Bowleven’s Cameroon deal pushed back again

Bowleven, the Africa-focused oil firm, was founded in Edinburgh in 2001Bowleven

The oil explorer Bowleven has again extended a deadline for completing a deal to sell part of its interests in Cameroon.

An agreement was initially struck in March last year for Victoria Oil and Gas, another Africa-focused oil firm, to purchase an 80 per cent stake in the onshore Bomono field. Both parties were hopeful the transaction could have been finalised by September but then pushed the deadline back to the end of December.

Bowleven, founded in 2001 in Edinburgh, has long been looking to find a partner to develop the 2,300 sq km of acreage it owns at Bomono into a producing field. The process was complicated further last year when most of the board was removed at the behest of Crown Ocean Capital,…